Penn medical school gets record $225 million gift

The University of Pennsylvania has received a record $225 million gift for its School of Medicine from a Philadelphia philanthropist and his wife.

University president Amy Gutmann and board of trustees chair David Cohen sent an e-mail to Penn alumni describing the gift as the largest in U.S. history to name a medical school. The school will be named after the philanthropists, Raymond and Ruth Perelman.

The school officials also say it's the largest ever given to the university.

They say the gift will establish a permanent endowment and help Penn provide significantly more financial aid to medical students as well as help research and recruitment.

Raymond Perelman told The Philadelphia Inquirer on Tuesday that the endowment will help "brilliant" students who have avoided medical school because of the cost.